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920-164 Contact focus Manager RIs6.0 I and M

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920-164 exam Dumps Source : Contact focus Manager RIs6.0 I and M

Test Code : 920-164
Test appellation : Contact focus Manager RIs6.0 I and M
Vendor appellation : Nortel
: 57 true Questions

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Nortel Contact focus Manager RIs6.0

Contact middle commerce Veteran invoice Devlin Joins ZOOM overseas to lead Product administration | killexams.com true Questions and Pass4sure dumps

TMCNet: Contact  focus Industry Veteran Bill Devlin Joins ZOOM International to Lead Product Management

FRANKLIN, Tennessee, Aug. 9, 2017 /PRNewswire/ -- ZOOM international, a leader in staff optimization and contact core utility, these days announced the appointment of invoice Devlin to vice chairman of global product management. he will lead product innovation and evolution for ZOOM and align the enterprise's imaginative and prescient and strategic initiatives—ultimately assisting ZOOM retain its 2d-to-none internet Promoter ranking™ and becoming its management position within the WFO trade.

"invoice has a proven tune record of success in pile cloud-native items which fill delivered gigantic cost in the unified communications and phone core industries, such that his product teams fill long gone from zero bucks in income to tens of thousands and thousands yearly," mentioned Brian Shore, chief executive officer of ZOOM overseas. "His leadership will aid ZOOM transform excellent contact middle enterprise challenges into advantageous options, assisting their consumers obtain stunning enterprise results. furthermore, he shares the govt crew's unwavering dedication to customer and confederate delight."

Devlin brings pleasing expertise of te UCaaS, CCaaS, and CPaaS sectors to the product management division. prior to now, he turned into principle product manager at Genesys/Interactive Intelligence, where he led the pile of PureCloud items from inception. previous to that, Devlin became director of technical practicing and earnings engineer at AudioCodes and a application and systems engineer at Nortel. Over his career, he has designed finished contact focus options, together with up to date and open APIs, telephony, omnichannel interactions, voice of the customer, analytics, satisfactory management, group of workers management and constant contact middle improvement.

responsible for establishing ultimate-in-classification client intimacy, Devlin should exist tasked with constructing a team of all-stars and offering on an ingenious product roadmap. additionally, he may exist a driving constrain at the back of ZOOM's commerce and cloud approach, go-to-market efforts and know-how systems.

"ZOOM represents an incredible chance to practice the core product philosophies I've constructed over the years," referred to Devlin. "each the client-centric subculture and management crew at ZOOM are an excellent well for product management to outdo and construct items people love. I reckon that ZOOM can revolutionize how brands bring on customer adventure and optimize the contact middle throughout americans, manner and technology. i am very excited to encourage ZOOM grow at this stage in its lifecycle."

About ZOOM overseas

ZOOM international is a global staff optimization (WFO) provider serving more than 1,600 shoppers and 350 partners in over 90 countries around the globe. The commerce facts calls and omnichannel communications whereas assisting contact facilities help the consumer and agent adventure through capturing, analyzing, and improving the quality of any interactions, while addressing again office compliance and risk. ZOOM is the commerce leader in consumer delight, incomes a web Promoter ranking (NPS) of eighty two+ for the previous 18 months. shoppers latitude from sub–a hundred agent contact facilities to a brace the world's biggest groups, equivalent to Finansbank, Cigna, Rostelecom, IBM, LEGO, and Saudi Aramco. greater guidance will moreover exist create at http://www.zoomint.com or on Twitter @zoomint.

View habitual content:http://www.prnewswire.com/news-releases/contact-center-trade-veteran-bill-devlin-joins-zoom-international-to-lead-product-management-300501523.html

supply ZOOM international

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Calabrio declares Calabrio Compliance Recording and first-class administration edition 2.7 featuring Redundancy Enhancements for Uninterrupted provider | killexams.com true Questions and Pass4sure dumps

MINNEAPOLIS--(enterprise WIRE)--Calabrio, Inc., a leading provider of workforce optimization and unified laptop application for IP-primarily based contact centers, announced today a brand unique version of Calabrio Compliance Recording and excellent administration, version 2.7, which aspects a redundant CTI (desktop Telephony Integration) carrier option for enhanced reliability, greater archival alternatives to toughen PCI (price Card trade) compliance, and learning employee recording that doesn't require an underlying contact core ACD (automated appellation Distributor). Calabrio moreover announced the availability of Calabrio staff administration application, version eight.3.three. both items encompass increased language help.

“distinct contact middle purchasers fill distinct needs, so bendy elements are vital and any of them are expecting reliability,” mentioned Paul Lidsky, CEO and president of Calabrio, Inc. “The enhancements they announced today additional give a boost to two key features that fill been simple to Calabrio application - the reliability and flexibility that are so crucial to contact facilities in managing americans and procedure.”

Calabrio Compliance Recording and quality management (CQM) 2.7

Calabrio Compliance Recording and exceptional administration gives the pliability for shoppers to install a recording solution for satisfactory administration, a hundred% voice recording, or each, the use of software this is constructed for reliability in IP-based mostly contact centers. This unique release, edition 2.7, comprises the following enhancements:

Redundant CQM CTI service option – This enhancement allows for the deployment of redundant CTI features to execute positive the critical recording carrier isn't interrupted with the aid of the failure of a sole server or service.

crew-stage Archive Workflow Configuration – Archival recording can now exist configured to exclude recording from selected sets of enviornment codes to accommodate diverse third-party recording consent rules. This enhancement expands upon the product’s current capabilities around PCI compliance.

listing learning employees with out ACD Requirement – Calabrio has supported potential worker recordings in traditional releases, however, an ACD became required. This unique edition allows businesses to deploy recording with out integration to an ACD through a direct connection to a Communications supervisor (IP-based PBX).

extended Flexibility – the brand unique application now permits recordings to exist saved for an tremendous amount of time, and permits recording of lots of of calls per agent per day so as to give the highest flexibility to fulfill consumer requirements.

Localization – Calabrio nice management now includes localizations for French, Italian, German, Spanish, Dutch, Brazilian Portuguese, Swedish, Danish, Russian, Korean, jap, Simplified chinese language and gauge chinese language.

Calabrio workforce management (WFM) eight.3.three

Calabrio cadaver of workers administration is a 100% browser-based respond that gives forecasting, scheduling and personnel planning capabilities that are architected to fulfill the particular wants of IP-based mostly or virtual contact facilities. This unique free up, edition eight.3.3, gives better configurability of experiences and drudgery parameters to tackle the specific commerce needs of Calabrio consumers. The product is moreover now accessible in French.

Supported platforms encompass: Cisco Unified Contact focus specific v5.x, 6.0, 7.0; Cisco Unified Contact core commerce v6.x, 7.x; Avaya CMS four+, Nortel Contact core 6.0 and Symposium 5.0.

Calabrio Compliance Recording and pleasant management 2.7 and Calabrio workforce management eight.3.three are available now through approved Calabrio companions.

Calabrio Compliance Recording and excellent administration and Calabrio personnel management are components of the Calabrio One suite, which integrates workforce optimization with unified computing device applications for brokers and supervisors in order to enhance the consumer journey, grow revenue, and boost profitability. as an example, Calabrio One shoppers can create forecasts, generate drudgery schedules, measure satisfactory and effectivity, access reports and signals, and collaborate within their teams to fill an result on performance. The Calabrio One appellation represents a stream towards streamlining enterprise techniques - proposing brokers with one view of the client, and providing supervisors and bosses with one view of the contact middle – any from a common laptop.

About Calabrio, Inc.

Calabrio, Inc. develops and markets Calabrio One™, a comprehensive suite of consumer interplay and cadaver of workers optimization software that’s convenient to attach into effect, use and maintain in unique IP-based mostly customer interplay networks. with the aid of integrating staff optimization in the agent and supervisor workflow, Calabrio helps clients align their contact middle enterprise approaches and performance with their enterprise aims. Calabrio distributes their utility through channel partnerships and an o.e.m relationship with Cisco, and has attach in software on more than 550,000 desktops. Calabrio is a member of the Cisco technology Developer application (CTDP), the Nortel Open developer application, and a gold member of the Avaya DevConnect application. learn information and suggestions at www.calabrio.com.

Calabrio, Calabrio One and the Calabrio brand are registered trademarks or logos of Calabrio, Inc. any other trademarks outlined during this document are the property of their respective homeowners.


Enghouse Interactive Showcases UC and Omni-Channel Contact focus solutions at IAUG CONVERGE 2015 | killexams.com true Questions and Pass4sure dumps

Contact core solutions leader Reinforces area on the Forefront of the Avaya consumer and DevConnect confederate community

PHOENIX, AZ--(Marketwired - Jun 15, 2015) - Enghouse Interactive (www.enghouseinteractive.com), developer of a complete portfolio of unified communications (UC) and salvage in paw with core solutions, nowadays introduced that it would argue off its expansive portfolio from sales space #1029 at IAUG CONVERGE 2015, taking vicinity June 14 - 18, 2015 in Denver, CO, in addition to its commitment as a Gold Sponsor.

"As a longtime, tenured member of the Avaya user community and DevConnect associate community, Enghouse Interactive is in a position to deliver an unparralleled, inherent capabilities of Avaya air of mystery® conversation supervisor, (ACM), Avaya IP office and other UC options to every deployment," pointed out John Cray, vice president of product management, Enghouse Interactive,.

Enghouse Interactive's expansive portfolio of contact core and client interaction solutions lead the market with superior performance, equivalent to omni-channel queuing, integrated presence, representing a powerful UC-integrated contact core offering.

Paired as a bundle, EICC and Enghouse Interactive fine administration Suite (QMS) creates a compelling complement to Avaya IP workplace and ACM structures. Communications core is a complete omni-channel contact core respond that includes IVR (interactive voice response), routing of any kinds of communication in a generic queue, productiveness tackle for brokers and supervisors, and detailed administration reporting. EICC additionally boasts a unified communications part, that includes voice mail, unified messaging (e.g. voice mail in mailbox), IM, wealthy presence, enterprise user communique equipment, and replete management reporting.

QMS contains an IP muster recording solution with 100% compliance recording; caused, selective or scheduled recording; and lines equivalent to list on demand. moreover, the suite allows for contact focus administrators to checklist clients' computers -- by window or utility, selectively or in complete -- as well as assessment templates and reporting to grade performance on calls and to school clients/brokers on enhancing the customer event.

EICC moreover integrates natively with charisma® verbal exchange supervisor. Leveraging Avaya's TSAPI for communication manager, a high-degree C/C++ API in keeping with the CSTA typical, this integration enables shoppers to seamlessly maximize their odds from both options.

TSAPI allows access to the total complement of third-birthday party muster manage capabilities supplied by way of ACM as an evolution server. These third-birthday celebration muster handle capabilities comprise controlling particular calls or stations, routing of incoming calls, receiving notifications of activities, invoking communique supervisor aspects, and querying conversation supervisor for tips.

further phoneset solutions from Enghouse Interactive allow users to leverage their investments in IP with the aid of offering useful, converged enterprise functions to the screens of Avaya CS 1000 IP telephones, and conveying unique and existing functions for true-time interplay on the mobile displays. Enghouse Interactive applications are preempt with Avaya CS 1000 with 11xx, 200x and 12xx sequence IP telephones. critical to keep is that with the Avaya (Nortel) software Gateway 2000 now manufacture-discontinued, Enghouse Interactive can present consumers applications for Avaya CS 1000 as a replacement answer. 

besides constructing customized solutions for valued clientele, Enghouse Interactive substances a suite of prepackaged applications for the enterprise, hospitality and buying and selling markets.

"The ensuing productiveness improvements a ways exceed the baseline cost savings and performance of Voice-over-IP (VoIP); the telephones evolve from being used comfortably for voice communications to information home equipment, complementing or even changing the workstation," added John Cray.

ABOUT ENGHOUSE INTERACTIVE Enghouse Interactive supplies technology and expertise to maximize the cost of every consumer interplay. The company develops essentially the most comprehensive portfolio of client interaction administration options. Core technologies comprise contact center, attendant console, predictive outbound dialer, talents management, IVR and muster recording options that aid any telephony atmosphere, on premise or in the cloud. Enghouse Interactive has heaps of consumers global, supported through a world network of partners and greater than seven-hundred dedicated group of workers throughout the company's international operations.

Enghouse Interactive is a subsidiary of Enghouse methods restrained, a application and features company traded on the Toronto stock trade (TSX) under the attribute " ESL." founded in 1984, Enghouse methods is a normally ecocnomic business, which has grown both organically and thru the acquisition of neatly-considered consultants together with Arc, CosmoCom, Datapulse, Syntellect, Telrex, Trio, Voxtron, Reitek and Zeacom.

For more information, please talk over with www.enghouseinteractive.com.


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Contact focus Manager RIs6.0 I and M

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Otter Tail Corporation (OTTR) CEO Charles MacFarlane on Q4 2018 Results - Earnings muster Transcript | killexams.com true questions and Pass4sure dumps

Otter Tail Corporation (NASDAQ:OTTR) Q4 2018 Results Earnings Conference muster February 19, 2019 11:00 AM ET

Company Participants

Loren Hanson - Manager of IR

Charles MacFarlane - President and CEO

Kevin Moug - SVP and CFO

Conference muster Participants

Paul Ridzon - KeyBanc

Chris Ellinghaus - Williams Capital

Operator

Good morning, and welcome to the Otter Tail Corporation's 2018 Year-End Earnings Conference Call. Today's muster is being recorded, and they will hold a question-and-answer session after the prepared remarks.

I will now eddy the muster over to the company for their opening comments.

Loren Hanson

Good morning, everyone, and welcome to their call.

My appellation is Loren Hanson and I manage Otter Tail Investor Relations Area. ultimate night, they announced their 2018 year-end results and their 2019 earnings per participate guidance range. Their complete earnings release and slides accompanying this muster are available on their website at ottertail.com. A replay of the muster will exist available on their website later today.

With me on the muster today are, Chuck MacFarlane, Otter Tail Corporation's President and CEO; and Kevin Moug, Otter Tail Corporation's Senior Vice President and Chief financial Officer.

Before they begin, I want to remind you that they will exist making forward-looking statements during this call. As renowned on glide 2, these statements represent their current judgment or view of what the future holds. They are matter to risks and uncertainties that may antecedent actual results to differ materially. So please exist advised about placing undue reliance on any of these statements. Their forward-looking statements are described in more detail in their filings with the Securities and Exchange Commission, which they encourage you to review. Otter Tail Corporation disclaims any duty to update or revise their forward-looking statements due to unique information, future events, developments or otherwise.

For opening remarks, I will now eddy the muster over to Otter Tail Corporation's President and CEO, Mr. Chuck MacFarlane.

Charles MacFarlane

Thank you, Loren, and mighty morning, everyone.

Last night, they released their 2018 results. please mention to glide 5 as I start my comments. Earnings per participate were $2.06, which is above the midpoint of their updated 2018 earnings guidance of $2 to $2.10.

Our stock performed well. For the three years ending 2018, Otter Tail Corporation ranked number one in total shareholder recur in the EEI index of investor-owned electric utilities. Total shareholder recur has grown at a compound annual rate of 15.3% over the past five years. The dividend bow at year-end was 2.7%.

Some of their Otter Tail Power's 2018 accomplishments include; The North Dakota Public Service Commission granularity of power and overall revenue extend of $4.6 million or 3.1% with a recur on equity of 9.77%. Final rates went into result February 1, 2019. They implemented interim rates in South Dakota.

Interim rates, which are matter to refund, remain in area until the Public Utilities Commission makes a determination on their request to extend non-fuel rates by approximately $3.3 million or 10.1%. The Commission will moreover determine on the second step in their request, which is an additional 1.7% to recover costs for the proposed Merricourt wind generation facility when it goes into service.

We completed straining the broad Stone South-Ellendale 345 kV regional transmission project in 2018 and energized the line in early February of 2019. Their participate of the cost for this project was $115 million, because this is a MISO multi-value project, which allows cost recovery from any customers who capitalize from the line. Their customers will pay less than 1% of the project costs.

In 2019, Otter Tail Power will moreover enhance transmission infrastructure in their Southeastern/South Dakota service territory, providing an approximate $39 million investment that will help reliability and provide increased capacity for customers in the southern terminate of their service territory.

In the fourth quarter and into 2019, they continue to drudgery through the MISO generator interconnection process for the Merricourt wind generation projects, which will exist Otter Tail's largest capital investment at $270 million. They estimate the project construction will began in July of 2019 with an expected commercial operation in the third quarter of 2020.

South Dakota Public Utilities Commission approved the site permit for the $165 million Astoria Station natural gas generation project. And the North Dakota PSC endorse the project for rider recovery in their recent North Dakota rate case.

We will start construction in 2019 and expect to exist operational by March 2021. These and other investments will bear an annual growth rate of 8% in their rate groundwork between 2018 and 2023 in a constructive regulatory environment.

The Minnesota Public Utilities Commission approved a one-year extension to June 1, 2020, for the filing of their next resource plan. Two key environmental regulations that may impact their modeling are the regional haze rule and the proposed affordable cleanly energy rules. Delaying their filing one year will allow us to reckon the outcomes of these environmental regulations and develop a more informed resource plan.

In August, they published their ESG Sustainability Report, which gives investors and others insight into their environmental, sociable and governance commitments. On glide 15 through 17, you'll perceive highlights from their report and a glimpse into how their electric utilities plant and service and resource merge are evolving due to significant investments in low cost renewable energy and transmission that enables regional wind development.

Last, but certainly not least, February 4, 2019, marked the official go-live date for their unique Customer Information System. This 37-month project is their biggest system upgrade in the generation. I'm supercilious of the project team for its result throughout the project and for executing a seamless cutover diagram to encourage ensure continued customer satisfaction.

I'd moreover dote to give special recognition to Coyote Station in North Dakota for achieving two milestones. By year-end, the plant exceeded 3 million megawatt hours produced, the second highest yearly generation amount in the plants 38-year history and crossed over the 3 million man-hour without a loss time incident.

The plants ultimate loss time incident occurred 18 years ago. Congratulations to Coyote Station employees for these significant accomplishments and thank you to any of their employees for continuing to attach safety first.

Our manufacturing companies moreover experienced notable accomplishments in 2018. BTD their compress metal fabricator and largest manufacturing commerce increased sales by 19% in 2018 and the Georgia location is profitable in the ultimate half of the year. The company achieved this while reporting its lowest OSHA rate and highest on-time delivery in history.

T.O. Plastics celebrated its 70th anniversary in 2018 and achieved 6% overall sales growth and a 29% extend in earnings, driven mostly by lower income tax rates. The company's horticulture segment continues to grow through key account relationships and unique product launches.

Northern Pipe Products and Vinyltech had an exceptional year supported by sturdy market exact and prices, and continued excellent operational performance. They positively contributed to earnings, while remaining highly competitive.

Both companies continue to prove - help in the markets they serve by demonstrating flexibility and responsiveness to customer needs. We're targeting additional organic volume growth in these companies in 2019.

Employees across their organization are aligned with their growth strategy, which includes capital investment, continued improvement in operations and talent development. It's with much appreciation that I congratulate them on a job well done in 2018. In 2019, they will continue to execute on utility rate groundwork growth and create additional organic growth in the manufacturing businesses.

Now, I'll eddy it over to Kevin for the financial perspective.

Kevin Moug

Well, thank you, Chuck, and mighty morning, everyone.

I will cover the following items, their 2018 financial results; their liquidity position; the power equilibrium sheet and corporate credit ratings; the extend in their 2019 indicated annual dividend; their five-year capital expenditure diagram and their 2019 commerce outlook.

We are pleased with their sturdy 2018 financial performance. Revenues grew approximately 8% and earnings grew approximately 14% with any their reporting segments showing year-over-year increases in revenues and earnings. They earned $2.06 per share, which compared with $1.82 per participate ultimate year.

Our 2018 recur on equity was 11.5% on an equity ratio of 54.5%. Their two platform strategy continues to deliver higher returns on equity on a higher equity layer when compared to holding company peers.

Let me now provide an overview of 2018 earnings by segment, as shown on Slides 20 and 21. Electric segment net earnings increased $5 million year-over-year. Key drivers comprise increased revenues due to more conducive weather, year-over-year earnings improved by $0.11 a participate due to the weather and compared to run-of-the-mill weather was conducive by $0.07 a share, increased revenues due to interim rates associated with their North Dakota general rate case, net of estimated refunds, which was implemented in January of 2018.

Interim rates associated with their South Dakota rate case went into result in October of 2018, increased renewable resource, rider revenues in Minnesota and North Dakota, and increased Minnesota SIP revenues.

These items were partially offset by a $9.6 million reduction in revenues related to a provision for refunds to recognize that current retail rates in their service area and FERC approved transmission tariffs, their recovering federal income taxes in excess of lower rates under tax reform, lower North Dakota environmental cost recovery rider revenue due to the impact from lower tax rates, a reduction in the recur on equity component of the rider in the lower investment equilibrium matter to recovery from depreciation.

For their North Dakota and South Dakota transmission costs recovery riders due to the impact of lower tax rate and reduced transmission costs. Other items impacting the segment's earnings were higher operating and maintenance, property tax and depreciation expenses.

We did fill a scheduled maintenance outage in 2018 at their broad Stone plant that cost $2.9 million. They don't fill any planned maintenance outages in 2019. In income tax, expense was lower in 2018, mainly due to the reduction in federal corporate tax rates from 35% to 21% and the reversal of excess deferred taxes.

Net earnings for the Manufacturing segment increased $1.8 million year-over-year. Key elements of this improvement are as follows; BTD's revenues increased $36.8 million, of which $33.8 million came from increased product sales to any its major terminate markets, $12.7 million of this extend relates to higher material costs that were passed through to customers with the equilibrium due to increased sales and improved pricing. BTD's scrap metal revenues moreover increased due to higher volumes and higher scrap sales prices.

These increases were offset in section by higher cost of goods sold and operating expenses, and higher income taxes due to the elimination of the Section 199 deduction, which was eliminated in 2018 and the write-down of deferred tax liabilities in 2017, which lowered ultimate year's income tax expense. These items resulted in a $1.2 million extend in BTD's year-over-year earnings.

T.O. Plastics revenues improved $1.9 million, mainly due to increased sales of horticultural containers. The increased revenues were partially offset by higher cost of goods sold, labor, freight and operating expenses. Earnings before taxes increased slightly year-over-year, however due to a lower tax rate earnings improved $600,000 at T.O. Plastics.

The Plastics segment's earnings increased $2.1 million year-over-year as a result of a 9.4% extend in PVC pipe prices, a 2.3% lessen in pounds of pipe sold. The extend in sales prices more than offset higher cost of goods per pound sold and lower sales volumes. The net impact of these items resulted in an 11.3% improvement in grievous margins.

Sales volumes were lower in the ultimate four months of 2018 compared with the selfsame time era in 2017, primarily due to the increased sales from hurricane-related impacts in the Gulf Coast region.

Those dynamics favorably impacted earnings by an estimated $0.09 a participate in 2017, and the conducive variance due to tax reform was offset by a loss of the Section 199 deduction in 2018 from lower tax expense in 2017 from a $3.3 million reduction in deferred tax liabilities due to tax reform.

Our corporate expenses before taxes increased $4 million year-over-year, primarily due to an extend in charitable contributions due to the establishment of the Otter Tail Corporation Charitable Foundation in 2018, the extend in employee capitalize costs and in other corporate costs. They realized the $5 million net extend in tax savings in the corporate costs focus in 2018, primarily due to the write-down of deferred tax assets in 2017 from tax reform.

This was offset by an extend in tax expense, mostly related to uncertain tax positions and the establishment of a valuation allowance on the recoverability of positive situation net operating losses. And they experienced a reduction in tax savings as a result of the federal tax rate change. The net result of their lease items was $1 million year-over-year reduction in corporate expense.

Moving to glide 22, let's review their financial condition and liquidity. ultimate year, they had no equity financing activity and don't expect any equity issuances in 2019. Their two credit agreements are in area until October 31 of 2023 between expected cash stream generated from 2019 operating activities and these credit facilities. They fill the preempt levels of liquidity to support both of their commerce platforms.

We currently expect to execute a private placement of debt at Otter Tail Power Company in the purview of $150 million to $170 million during the ultimate half of 2019 in connection with their rate groundwork growth. And, in 2018, any three rating agencies affirmed Otter Tail Corporation and Otter Tail Power's ratings and outlook. And they remain committed to maintaining investment grade credit ratings and we'll manage their operations to reflect that commitment.

As shown on glide 24, the Board of Directors increased their indicated annualized dividend rate from $1.34 per participate to $1.40 per share. This 4.5% extend is a result of their solid 2018 performance and their 2019 outlook, the company's sturdy equilibrium sheet, liquidity, cash generation profile and their commitment to enhancing shareholder returns.

We expect future dividend increases to exist in line with earnings growth, while maintaining a targeted payout ratio in the purview of 60% to 70% and they fill paid dividends on their stock for 80 years for 321 consecutive quarters.

Slide 25 highlights their capital expenditure plans for the 2019 through 2023 timeframe. They expect capital expenditures for 2019 to exist $203 million. Planned expenditures for this year includes $61 million for the Merricourt wind project and $40 million for the Astoria Station natural gas-fired plant. These investments will continue to positively impact the Corporation's earnings and returns on capital.

The five-year capital diagram calls for approximately $973 million in utility projects, 45% of this capital disburse will exist recovered through riders. The diagram moreover includes $97 million for the manufacturing and plastics businesses. In their updated compounded annual growth rate in rate groundwork over the 2018 through 2023 timeframe is projected to exist 8%, using 2018 as the groundwork year.

Slide 26 reflects their 2019 consolidated earnings per participate guidance of $2.10 to $2.25. This guidance includes their strategies for improving future results, the cyclical nature of the manufacturing businesses as well as current regulatory factors facing their electric segment.

Our electric segment's 2019 net income is expected to exist higher than 2018 based on constructive outcome in the South Dakota rate case, increased AFUDC for planned capital projects, including Merricourt wind project in the Astoria natural gas plant, along with increased revenues from the North Dakota generation cost recovery rider on the Astoria Station.

Increased revenues from the completion of the broad Stone South-Ellendale project and additional transmission investments related to their South Dakota transmission reliability project, decreased operating and maintenance expenses due to a lessen in pension medical workers' compensation and retiree medical benefits, their discount rate is increasing in 2019 to 4.5% from 3.9%, driven by the increasing interest rate environment. These items are offset by run-of-the-mill weather. Weather favorably impacted their 2018 earnings per participate by $0.07 compared to normal.

Higher property tax and depreciation expense due to larger transmission projects being attach into service. They expect increased earnings from their manufacturing segment in 2019 due to increased sales at BTD and the recreational vehicle, lawn and garden and agricultural terminate markets, moreover increased scrap revenues due to stronger sales volumes, the increased earnings at T.O. Plastics, primarily driven by increased sales in horticultural life science and industrial terminate markets. The backlog for this segment is approximately $211 million for 2019 compared with $166 million a year ago.

We expect Plastics' 2019 net income to exist lower than 2018. They are expecting lower operating margins due to increasing resin prices and slightly higher sales volumes compared to ultimate year. In corporate costs, net of tax are expected to exist lower in 2019.

Our current earnings guidance for 2019 reflect 68% of their earnings from their electric segment and 32% of their earnings from their manufacturing and plastics segments. This compares with 66% and 34%, respectively, in 2018. The extend in the electric earnings merge is being driven by the rate groundwork growth related to Merricourt, Astoria and South Dakota reliability projects.

We expect the long-term earnings merge to continue to glide back in line with 75% of earnings from their electric segment and 25% of their manufacturing and plastics segments net of unallocated corporate costs. This will exist driven by the capital plan, which calls for approximately 91% of their capital disburse over the 2019 through 2023 timeframe to exist in the electric segment. They believe their 2019 guidance further positions us to achieve a 5% to 7% compounded annual growth rate in earnings per participate using 2018's $2.06 a share.

Our 2019 guidance is matter on the commerce and the economic challenges their two platforms will mug this year. For the utility, key drivers comprise constructive outcome in the South Dakota rate case and successful execution of their rate groundwork growth projects.

For BTD, key drivers comprise continued operational improvements across any locations to further help their recur on sales margins. And while earnings are expected to decline in 2019 for Plastics, this segment continues to exist a sturdy complement to their portfolio by providing sturdy earnings, cash flows to support their dividend and returns on invested capital.

We are now ready to pick your questions.

Question-and-Answer Session

Operator

[Operator Instructions] Their first question comes from Paul Ridzon with KeyBanc.

Paul Ridzon

Could you give just some background on this charitable contribution and what they should search for for going forward?

Charles MacFarlane

Sure, Paul. I treasure the question. They have, for a number of year, been considering establishing the foundation for, well, both Otter Tail Corporation and then they moreover fill established one for the Otter Tail Power Company as well.

And they wanted to, in 2018, certainly encourage salvage the foundations off on the prerogative foot with the mighty commitment to fund those organizations going forward, and so you perceive a probably a much healthier contribution made for the Otter Tail Power - I'm sorry the Otter Tail Corporation foundation in that $2 million amount, the Power Company is a $0.5 million.

And as they kindly of search for forward, I would uncover you that future contributions are ultimately matter to the success, the financial success that we're having at both of the entities, but in the utility we're looking for the future kindly of range, I would say, in that $2 million to $500,000 purview on a go-forward basis and at the parent company depending on results you could see, I suppose, in a purview of $300,000 to $600,000 a year.

Paul Ridzon

So '18 was just kindly of getting this - the critical mass.

Charles MacFarlane

Yes.

Paul Ridzon

And then relative to your EEI data, it looks dote some CapEx moved from '19 to '20, can you give a itsy-bitsy more detail there?

Charles MacFarlane

The movement, Paul, relates to the Astoria - Merricourt. The movement is the Merricourt project when you - in terms of what you - they saw at EEI and then what they perceive now, we've seen a bit of a propel back in the timing of the Merricourt project. And so basically the project isn't going away. It's just a movement of dollars from '19 into '20.

Paul Ridzon

So everything fundamentally noiseless the same, just the timing shift?

Charles MacFarlane

Yes.

Paul Ridzon

And then I know I put a question to this every call, but pressures you're seeing maybe from the capitalize of tax reform being competitively reduced in the manufacturing segments?

Charles MacFarlane

Paul, they just haven't seen that. With brace of their - as they talk about in the press release and in my comments, they were actually - they saw expense uplift from some of their customers in 2019 both in kindly of across the board at BTD and T.O. Plastics. They were able to salvage expense increases in area with customers where they thought it was preempt and needed. They haven't had any propel back from customers looking for kindly of a reduction in pricing, because of the tax savings were picking up in the manufacturing businesses.

It doesn't exist of value that it couldn't happen, but they certainly are seeing any of that and of course they actually fill - they could exist looking for the selfsame things on their supply side as well when they negotiate their prices with their supply groundwork and given the PVC commodity nature of that commerce prices were up in 2018 in the PVC pipe commerce and that was really a reflective of market conditions.

We're seeing some softening of prices they saw that in the fourth quarter and as they head into '19, but it's really more market driven that it is having anything to execute with tax reform.

Paul Ridzon

What's driving that softening in the market?

Charles MacFarlane

I reckon that there - they as they went through '18, they saw much stronger prices than they expected. Now, as they head into the - they completed the fourth quarter, they saw some uplift in their resin costs. They reckon saw some pullback in market pricing as it relates to just exact and competition.

And as they glide into '19, we're seeing similar - there's some announced resin expense increases here in the first quarter, we'll perceive if they stick fully, but they expected some of it's going to stick and we've seen some softening in sales prices that started in the fourth quarter and it's really kindly of market related and it's what's driving it.

Operator

Our next question comes from Chris Ellinghaus with Williams Capital.

Chris Ellinghaus

Can talk about the Georgia, you'd mentioned that it was profitable in the second half of the year. Are you expecting that trend to continue?

Charles MacFarlane

Yes, they are. They more - dote a 30% extend in volume year-over-year in Georgia. So we've got some leverage there and they continue to perceive a mighty backlog at that site. We've continued to help operationally, then help dramatically around their on-time delivery and drudgery with a number of customers on pricing, so they anticipate that similar or better results as they had in the ultimate six months of '18 going forward into '19.

Chris Ellinghaus

Does that exist of value BTD had some pretty sturdy revenue growth? Are you expecting particularly with the way the backlog look, you're expecting another really mighty revenue year there?

Charles MacFarlane

We are definitely expecting an increase, I would say, in the backlog 35% of the section expense or 35% to 40% is metal and a lot of these prices that are in the backlog assume metal prices that were probably based on 2018 final quarter and we've seen that drop a little. So the metal impact in the '19 backlog is likely overstated a itsy-bitsy bit, but they execute anticipate mighty growth in any the segments where - there are some of those segments that you're not going to perceive that kindly of growth.

We fill been awarded programs in the Ag sector that are unique to us, meaning it's just not higher volume of the selfsame section they were making, they are going to exist making parts of it that they weren't in previous year. So it's a market participate growth there.

Chris Ellinghaus

Kevin, is the foundation donations that you were talking about, would you anticipate that those would likely sojourn sort of fourth quarter kindly of events?

Kevin Moug

Yes.

Chris Ellinghaus

And lastly, you talked about the competition increasing in plastics a itsy-bitsy bit, is there - was there a lot of slack in capacity that some of your competitors may fill been trying to utilize or salvage your utilization higher or what - where is that competition coming from?

Charles MacFarlane

Yes. I mean, I reckon that there is a lot of the - some of the larger competition certainly has capacity out there in the - in their plants. Some of that competition is moreover vertically integrated and that there are resin manufacturers and there's always some potential or were there want to fill their profits occur and whether it's at their resin plants or their PVC businesses.

And so they did perceive some of that happened and there's been - it's - at least, looks to exist continuing into the first quarter here. I mean, we're only a month and a half into the year so far, but they fill seen sales prices kindly of continue with those itsy-bitsy bit reduced levels from that were in the fourth quarter.

Operator

Our next question is a follow-up question from Paul Ridzon with KeyBanc.

Paul Ridzon

Just back to the ultimate question, the - at BTD, the lessen in metal prices will impact revenues, but shouldn't impact net income?

Kevin Moug

Correct. The metal prices are passed through to the customer, but they execute argue up in the backlog as far as total section prices.

Paul Ridzon

Kevin, when you talked about and talks about the '19 electric utility outlook, you said something about O&M and pension, like, I kindly of missed that, could you quickly review what you said?

Kevin Moug

Sure. I mean, we're - they expect, in large part, lower O&M at the utility in part, because we're - their discount rate went up on the pension diagram and their other capitalize programs and they had a discount rate of 3.9%, Paul, in 2000 - that they use for 2018 and then now in 2019, given where interest rates glide kindly of that ultimate half of the year, their discount rate went up to 4.5%.

Paul Ridzon

And should they moreover search for for lessen in O&M, because of the plant outage loss?

Kevin Moug

Yes.

Paul Ridzon

So the O&M line in total should exist down? Correct? Is that just to say?

Kevin Moug

Yes.

Operator

And I'm not showing any further questions on the phone lines.

Charles MacFarlane

Well, thank you for your questions and support Otter Tail Corporation. With continued execution on the utility growth projects and sturdy operational performance in their manufacturing segment, they remain confident in their competence to deliver shareholder value. In 2019, they will focus on continuing to help BTD profitability and they will further refine the long-term growth strategy for Northern Pipe and Vinyltech and T.O. Plastics, and they will continue to execute on Otter Tail Power's major generation and technology projects. They believe this will allow us to the deliver on their 2019 guidance of $2.10 to $2.25 a share.

Thank you for joining their call. They treasure your interest in Otter Tail Corporation, and they search for forward to a successful 2019.

Operator

Ladies and gentlemen, this does conclude today's presentation. You may now disconnect. And fill a wonderful day.

SeekingAlpha

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A Minneapolis man who is black says he was singled out and asked to pay in further at a Brooklyn focus buffet, perverse to the restaurant's gauge practice.

Vanlice "Vii" Washington said that when he visited Ocean Buffet early Saturday afternoon, the Chinese-American manager demanded he pay before getting his food while other customers streamed by him to dine first and pay later.

He was so frustrated, he said, that he called police and posted about the episode on Facebook. It unleashed a sociable media torrent, including a stream of noxious online reviews for the restaurant on Shingle Creek Parkway.

Washington, a 32-year-old entrepreneur and IT specialist, said he had eaten at the buffet at least 20 times before and was never asked to pay before eating.

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"We are both immigrants and minorities. It's already difficult enough out there. For them to execute what they are doing is ridiculous and wrong."

The manager, Fang Chen, said she asked some young customers — including Washington — to pay in further after having problems with a series of "dine and dash" customers. She said she apologized to Washington when he told her he was in his 30s.

"I execute put a question to young kids to pay first. I already apologized and said I am sorry," said Chen, who added she thought her less-than-perfect English didn't encourage the situation. "He was mad at me and he called the police officer."

The restaurant has been receiving furious and sometimes sacrilegious calls, as well as hostile posts on Facebook and online review sites.

"I never told people to boycott the place, but I had to post it," Washington said. "I was so furious because she laughed at me after the cops left."

Brooklyn focus police confirmed that they responded to Washington's muster around 2 p.m. on Saturday. Officers talked to Washington and the manager and determined it was a civil matter.

Washington said he did sit down and eat, peeling off a $50 bill to pay for the food shortly after he began.

"Sad day for me ... I just lost one of my favorite buffets to consume at," Washington wrote in his Facebook post on the incident. "The food is noiseless mighty but now I just can't consume here ever again."

Washington said he moreover took a photo of himself at the restaurant to document the incident because he knew doubters would proclaim he was "dressed dote a hoodlum."

"It is sad. You fill to cover any your bases," he said.

Shannon Prather • 612-673-4804


Otter Tail Corp (OTTR) Q4 2018 Earnings Conference muster Transcript | killexams.com true questions and Pass4sure dumps

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Image source: The Motley Fool.

Otter Tail Corp  (NASDAQ:OTTR)Q4 2018 Earnings Conference CallFeb. 19, 2019, 11:00 a.m. ET

Contents:
  • Prepared Remarks
  • Questions and Answers
  • Call Participants
  • Prepared Remarks:

    Operator

    Good morning, and welcome to the Otter Tail Corporation's 2018 Year-End Earnings Conference Call. Today's muster is being recorded, and they will hold a question-and-answer session after the prepared remarks. I will now eddy the muster over to the company for their opening comments.

    Loren Hanson -- assistant Secretary, Treasurer & Manager of Investor Relations

    Good morning, everyone, and welcome to their call. My appellation is Loren Hanson and I manage Otter Tail Investor Relations Area.

    Last night, they announced their 2018 year-end results and their 2019 earnings per participate guidance range. Their complete earnings release and slides accompanying this muster are available on their website at ottertail.com. A replay of the muster will exist available on their website later today.

    With me on the muster today are, Chuck MacFarlane, Otter Tail Corporation's President and CEO; and Kevin Moug, Otter Tail Corporation's Senior Vice President and Chief financial Officer.

    Before they begin, I want to remind you that they will exist making forward-looking statements during this call. As renowned on glide two, these statements represent their current judgment or view of what the future holds. They are matter to risks and uncertainties that may antecedent actual results to differ materially. So please exist advised about placing undue reliance on any of these statements. Their forward-looking statements are described in more detail in their filings with the Securities and Exchange Commission, which they encourage you to review. Otter Tail Corporation disclaims any duty to update or revise their forward-looking statements due to unique information, future events, developments or otherwise.

    For opening remarks, I will now eddy the muster over to Otter Tail Corporation's President and CEO, Mr. Chuck MacFarlane.

    Charles MacFarlane -- President & Chief Executive Officer

    Thank you, Loren; and mighty morning, everyone. ultimate night, they released their 2018 results. please mention to glide five as I start my comments. Earnings per participate were $2.06, which is above the midpoint of their updated 2018 earnings guidance of $2 to $2.10.

    Our stock performed well. For the three years ending 2018, Otter Tail Corporation ranked number one in total shareholder recur in the EEI index of investor-owned electric utilities. Total shareholder recur has grown at a compound annual rate of 15.3% over the past five years. The dividend bow at year-end was 2.7%.

    Some of their Otter Tail Power's 2018 accomplishments include: The North Dakota Public Service Commission granularity of power and overall revenue extend of $4.6 million or 3.1% with a recur on equity of 9.77%. Final rates went into result February 1, 2019. They implemented interim rates in South Dakota. Interim rates, which are matter to refund, remain in area until the Public Utilities Commission makes a determination on their request to extend non-fuel rates by approximately $3.3 million or 10.1%. The Commission will moreover determine on the second step in their request, which is an additional 1.7% to recover costs for the proposed Merricourt wind generation facility when it goes into service.

    We completed straining the broad Stone South-Ellendale 345 kV regional transmission project in 2018 and energized the line in early February of 2019. Their participate of the cost for this project was $115 million, because this is a MISO multi-value project, which allows cost recovery from any customers who capitalize from the line. Their customers will pay less than 1% of the project costs.

    In 2019, Otter Tail Power will moreover enhance transmission infrastructure in their Southeastern/South Dakota service territory, providing an approximate $39 million investment that will help reliability and provide increased capacity for customers in the southern terminate of their service territory.

    In the fourth quarter and into 2019, they continue to drudgery through the MISO generator interconnection process for the Merricourt wind generation projects, which will exist Otter Tail's largest capital investment at $270 million. They estimate the project construction will began in July of 2019 with an expected commercial operation in the third quarter of 2020.

    South Dakota Public Utilities Commission approved the site permit for the $165 million Astoria Station natural gas generation project. And the North Dakota PSC endorse the project for rider recovery in their recent North Dakota rate case. They will start construction in 2019 and expect to exist operational by March 2021. These and other investments will bear an annual growth rate of 8% in their rate groundwork between 2018 and 2023 in a constructive regulatory environment.

    The Minnesota Public Utilities Commission approved a one-year extension to June 1, 2020, for the filing of their next resource plan. Two key environmental regulations that may impact their modeling are the regional haze rule and the proposed affordable cleanly energy rules. Delaying their filing one year will allow us to reckon the outcomes of these environmental regulations and develop a more informed resource plan.

    In August, they published their ESG Sustainability Report, which gives investors and others insight into their environmental, sociable and governance commitments. On glide 15 through 17, you'll perceive highlights from their report and a glimpse into how their electric utilities plant and service and resource merge are evolving due to significant investments in low cost renewable energy and transmission that enables regional wind development.

    Last, but certainly not least, February 4, 2019, marked the official go-live date for their unique Customer Information System. This 37-month project is their biggest system upgrade in the generation. I'm supercilious of the project team for its result throughout the project and for executing a seamless cutover diagram to encourage ensure continued customer satisfaction.

    I'd moreover dote to give special recognition to Coyote Station in North Dakota for achieving two milestones. By year-end, the plant exceeded 3 million megawatt hours produced, the second highest yearly generation amount in the plants 38-year history and crossed over the 3 million manhour without a loss time incident. The plants ultimate loss time incident occurred 18 years ago. Congratulations to Coyote Station employees for these significant accomplishments and thank you to any of their employees for continuing to attach safety first.

    Our manufacturing companies moreover experienced notable accomplishments in 2018. BTD their compress metal fabricator and largest manufacturing commerce increased sales by 19% in 2018 and the Georgia location is profitable in the ultimate half of the year. The company achieved this while reporting its lowest OSHA rate and highest on-time delivery in history.

    T.O. Plastics celebrated its 70th anniversary in 2018 and achieved 6% overall sales growth and a 29% extend in earnings, driven mostly by lower income tax rates. The company's horticulture segment continues to grow through key account relationships and unique product launches.

    Northern Pipe Products and Vinyltech had an exceptional year supported by sturdy market exact and prices, and continued excellent operational performance. They positively contributed to earnings, while remaining highly competitive. Both companies continue to prove -- help in the markets they serve by demonstrating flexibility and responsiveness to customer needs. We're targeting additional organic volume growth in these companies in 2019.

    Employees across their organization are aligned with their growth strategy, which includes capital investment, continued improvement in operations and talent development. It's with much appreciation that I congratulate them on a job well done in 2018. In 2019, they will continue to execute on utility rate groundwork growth and create additional organic growth in the manufacturing businesses.

    Now, I'll eddy it over to Kevin for the financial perspective.

    Kevin Moug -- Senior Vice President & Chief financial Officer

    Well, thank you, Chuck; and mighty morning, everyone. I will cover the following items: their 2018 financial results; their liquidity position; the power equilibrium sheet and corporate credit ratings; the extend in their 2019 indicated annual dividend; their five-year capital expenditure diagram and their 2019 commerce outlook.

    We are pleased with their sturdy 2018 financial performance. Revenues grew approximately 8% and earnings grew approximately 14% with any their reporting segments showing year-over-year increases in revenues and earnings. They earned $2.06 per share, which compared with $1.82 per participate ultimate year.

    Our 2018 recur on equity was 11.5% on an equity ratio of 54.5%. Their two platform strategy continues to deliver higher returns on equity on a higher equity layer when compared to holding company peers.

    Let me now provide an overview of 2018 earnings by segment, as shown on slides 20 and 21. Electric segment net earnings increased $5 million year-over-year. Key drivers comprise increased revenues due to more conducive weather, year-over-year earnings improved by $0.11 a participate due to the weather and compared to run-of-the-mill weather was conducive by $0.07 a share, increased revenues due to interim rates associated with their North Dakota general rate case, net of estimated refunds, which was implemented in January of 2018, interim rates associated with their South Dakota rate case went into result in October of 2018, increased renewable resource, rider revenues in Minnesota and North Dakota, and increased Minnesota SIP revenues.

    These items were partially offset by a $9.6 million reduction in revenues related to a provision for refunds to recognize that current retail rates in their service area and FERC approved transmission tariffs, their recovering federal income taxes in excess of lower rates under tax reform, lower North Dakota environmental cost recovery rider revenue due to the impact from lower tax rates, a reduction in the recur on equity component of the rider in the lower investment equilibrium matter to recovery from depreciation. For their North Dakota and South Dakota transmission costs recovery riders due to the impact of lower tax rate and reduced transmission costs. Other items impacting the segment's earnings were higher operating and maintenance, property tax and depreciation expenses.

    We did fill a scheduled maintenance outage in 2018 at their broad Stone plant that cost $2.9 million. They don't fill any planned maintenance outages in 2019.

    In income tax, expense was lower in 2018, mainly due to the reduction in federal corporate tax rates from 35% to 21% and the reversal of excess deferred taxes.

    Net earnings for the Manufacturing segment increased $1.8 million year-over-year. Key elements of this improvement are as follows: BTD's revenues increased $36.8 million, of which $33.8 million came from increased product sales to any its major terminate markets, $12.7 million of this extend relates to higher material costs that were passed through to customers with the equilibrium due to increased sales and improved pricing. BTD's scrap metal revenues moreover increased due to higher volumes and higher scrap sales prices. These increases were offset in section by higher cost of goods sold and operating expenses, and higher income taxes due to the elimination of the Section 199 deduction, which was eliminated in 2018 and the writedown of deferred tax liabilities in 2017, which lowered ultimate year's income tax expense. These items resulted in a $1.2 million extend in BTD's year-over-year earnings.

    T.O. Plastics revenues improved $1.9 million, mainly due to increased sales of horticultural containers. The increased revenues were partially offset by higher cost of goods sold, labor, freight and operating expenses. Earnings before taxes increased slightly year-over-year, however due to a lower tax rate earnings improved $600,000 at T.O. Plastics.

    The Plastics segment's earnings increased $2.1 million year-over-year as a result of a 9.4% extend in PVC pipe prices, a 2.3% lessen in pounds of pipe sold. The extend in sales prices more than offset higher cost of goods per pound sold and lower sales volumes. The net impact of these items resulted in an 11.3% improvement in grievous margins. Sales volumes were lower in the ultimate four months of 2018 compared with the selfsame time era in 2017, primarily due to the increased sales from hurricane-related impacts in the Gulf Coast region. Those dynamics favorably impacted earnings by an estimated $0.09 a participate in 2017, and the conducive variance due to tax reform was offset by a loss of the Section 199 deduction in 2018 (technical difficulty) lower tax expense in 2017 from a $3.3 million reduction in deferred tax liabilities due to tax reform.

    Our corporate expenses before taxes increased $4 million year-over-year, primarily due to an extend in charitable contributions due to the establishment of the Otter Tail Corporation Charitable Foundation in 2018, the extend in employee capitalize costs and in other corporate costs. They realized the $5 million net extend in tax savings in the corporate costs focus in 2018, primarily due to the writedown of deferred tax assets in 2017 from tax reform. This was offset by an extend in tax expense, mostly related to uncertain tax positions and the establishment of a valuation allowance on the recoverability of positive situation net operating losses. And they experienced a reduction in tax savings as a result of the federal tax rate change. The net result of their lease items was $1 million year-over-year reduction in corporate expense.

    Moving to glide 22, let's review their financial condition and liquidity. ultimate year, they had no equity financing activity and don't expect any equity issuances in 2019. Their two credit agreements are in area until October 31 of 2023 between expected cash stream generated from 2019 operating activities and these credit facilities. They fill the preempt levels of liquidity to support both of their commerce platforms. They currently expect to execute a private placement of debt at Otter Tail Power Company in the purview of $150 million to $170 million during the ultimate half of 2019 in connection with their rate groundwork growth. And, in 2018, any three rating agencies affirmed Otter Tail Corporation and Otter Tail Power's ratings and outlook. And they remain committed to maintaining investment grade credit ratings and we'll manage their operations to reflect that commitment.

    As shown on glide 24, the Board of Directors increased their indicated annualized dividend rate from $1.34 per participate to $1.40 per share. This 4.5% extend is a result of their solid 2018 performance and their 2019 outlook, the company's sturdy equilibrium sheet, liquidity, cash generation profile and their commitment to enhancing shareholder returns. They expect future dividend increases to exist in line with earnings growth, while maintaining a targeted payout ratio in the purview of 60% to 70% and they fill paid dividends on their stock for 80 years for 321 consecutive quarters.

    Slide 25 highlights their capital expenditure plans for the 2019 through 2023 timeframe. They expect capital expenditures for 2019 to exist $203 million. Planned expenditures for this year includes $61 million for the Merricourt wind project and $40 million for the Astoria Station natural gas-fired plant. These investments will continue to positively impact the Corporation's earnings and returns on capital.

    The five-year capital diagram calls for approximately $973 million in utility projects, 45% of this capital disburse will exist recovered through riders. The diagram moreover includes $97 million for the manufacturing and plastics businesses. In their updated compounded annual growth rate in rate groundwork over the 2018 through 2023 timeframe is projected to exist 8%, using 2018 as the groundwork year.

    Slide 26 reflects their 2019 consolidated earnings per participate guidance of $2.10 to $2.25. This guidance includes their strategies for improving future results, the cyclical nature of the manufacturing businesses as well as current regulatory factors facing their electric segment. Their electric segment's 2019 net income is expected to exist higher than 2018 based on constructive outcome in the South Dakota rate case, increased AFUDC for planned capital projects, including Merricourt wind project in the Astoria natural gas plant, along with increased revenues from the North Dakota generation cost recovery rider on the Astoria Station. Increased revenues from the completion of the broad Stone South-Ellendale project and additional transmission investments related to their South Dakota transmission reliability project, decreased operating and maintenance expenses due to a lessen in pension medical workers' compensation and retiree medical benefits, their discount rate is increasing in 2019 to 4.5% from 3.9%, driven by the increasing interest rate environment. These items are offset by run-of-the-mill weather. Weather favorably impacted their 2018 earnings per participate by $0.07 compared to normal.

    Higher property tax and depreciation expense due to larger transmission projects being attach into service. They expect increased earnings from their manufacturing segment in 2019 due to increased sales at BTD and the recreational vehicle, lawn and garden and agricultural terminate markets, moreover increased scrap revenues due to stronger sales volumes, the Increased earnings at T.O. Plastics, primarily driven by increased sales in horticultural life science and industrial terminate markets. The backlog for this segment is approximately $211 million for 2019 compared with $166 million a year ago.

    We expect Plastics' 2019 net income to exist lower than 2018. They are expecting lower operating margins due to increasing resin prices and slightly higher sales volumes compared to ultimate year.

    In corporate costs, net of tax are expected to exist lower in 2019.

    Our current earnings guidance for 2019 reflect 68% of their earnings from their electric segment and 32% of their earnings from their manufacturing and plastics segments. This compares with 66% and 34%, respectively, in 2018. The extend in the electric earnings merge is being driven by the rate groundwork growth related to Merricourt, Astoria and South Dakota reliability projects. They expect the long-term earnings merge to continue to glide back in line with 75% of earnings from their electric segment and 25% of their manufacturing and plastics segments net of unallocated corporate costs. This will exist driven by the capital plan, which calls for approximately 91% of their capital disburse over the 2019 through 2023 timeframe to exist in the electric segment. They believe their 2019 guidance further positions us to achieve a 5% to 7% compounded annual growth rate in earnings per participate using 2018's $2.06 a share.

    Our 2019 guidance is matter on the commerce and the economic challenges their two platforms will mug this year. For the utility, key drivers comprise constructive outcome in the South Dakota rate case and successful execution of their rate groundwork growth projects. For BTD, key drivers comprise continued operational improvements across any locations to further help their recur on sales margins. And while earnings are expected to decline in 2019 for Plastics, this segment continues to exist a sturdy complement to their portfolio by providing sturdy earnings, cash flows to support their dividend and returns on invested capital.

    We are now ready to pick your questions.

    Questions and Answers:

    Operator

    (Operator Instructions) Their first question comes from Paul Ridzon with KeyBanc.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    Good morning. How are you?

    Charles MacFarlane -- President & Chief Executive Officer

    Good morning, Paul.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    Could you give just some background on this charitable contribution and what they should search for for going forward?

    Charles MacFarlane -- President & Chief Executive Officer

    Sure, Paul. I treasure the question. They have, for a number of year, been considering establishing the foundation for, well, both Otter Tail Corporation and then they moreover fill established one for the Otter Tail Power Company as well. And they wanted to, in 2018, certainly encourage salvage the foundations off on the prerogative foot with the mighty commitment to fund those organizations going forward, and so you perceive a probably a much healthier contribution made for the Otter Tail Power -- I'm sorry the Otter Tail Corporation foundation in that $2 million amount, the Power Company is a $0.5 million.

    And as they kindly of search for forward, I would uncover you that future contributions are ultimately matter to the success, the financial success that we're having at both of the entities, but in the utility we're looking for the future kindly of range, I would say, in that $2 million to $500,000 purview on a go-forward basis and at the parent company depending on results you could see, I suppose, in a purview of $300,000 to $600,000 a year.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    So '18 was just kindly of getting this -- the critical mass.

    Charles MacFarlane -- President & Chief Executive Officer

    Yes.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    And then relative to your EEI data, it looks dote some CapEx moved from '19 to '20, can you give a itsy-bitsy more detail there?

    Charles MacFarlane -- President & Chief Executive Officer

    Sure. The movement, Paul, relates to the Astoria -- Merricourt. The movement is the Merricourt project when you -- in terms of what you -- they saw at EEI and then what they perceive now, we've seen a bit of a propel back in the timing of the Merricourt project. And so basically the project isn't going away. It's just a movement of dollars from '19 into '20.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    Got it, OK. So everything fundamentally noiseless the same, just the timing shift?

    Charles MacFarlane -- President & Chief Executive Officer

    Yup.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    And then I know I put a question to this every call, but pressures you're seeing maybe from the capitalize of tax reform being competitively reduced in the manufacturing segments?

    Charles MacFarlane -- President & Chief Executive Officer

    Paul, they just haven't seen that. With brace of their -- as they talk about in the press release and in my comments, they were actually -- they saw expense uplift from some of their customers in 2019 both in kindly of across the board at BTD and T.O. Plastics. They were able to salvage expense increases in area with customers where they thought it was preempt and needed. They haven't had any propel back from customers looking for kindly of a reduction in pricing, because of the tax savings were picking up in the manufacturing businesses. It doesn't exist of value that it couldn't happen, but they certainly are seeing any of that and of course they actually fill -- they could exist looking for the selfsame things on their supply side as well when they negotiate their prices with their supply groundwork and given the PVC commodity nature of that commerce prices were up in 2018 in the PVC pipe commerce and that was really a reflective of market conditions. We're seeing some softening of prices they saw that in the fourth quarter and as they head into '19, but it's really more market driven that it is having anything to execute with tax reform.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    What's driving that softening in the market?

    Charles MacFarlane -- President & Chief Executive Officer

    I reckon that there -- they as they went through '18, they saw much stronger prices than they expected. Now, as they head into the -- they completed the fourth quarter, they saw some uplift in their resin costs. They reckon saw some pullback in market pricing as it relates to just exact and competition. And as they glide into '19, we're seeing similar -- there's some announced resin expense increases here in the first quarter, we'll perceive if they stick fully, but they expected some of it's going to stick and we've seen some softening in sales prices that started in the fourth quarter and it's really kindly of market related and it's what's driving it.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    Okay. Thank you very much.

    Charles MacFarlane -- President & Chief Executive Officer

    Thanks, Paul.

    Operator

    Our next question comes from Chris Ellinghaus with Williams Capital.

    Christopher Ellinghaus -- The Williams Capital Group -- Analyst

    Hey, guys. mighty morning.

    Charles MacFarlane -- President & Chief Executive Officer

    Hi, Chris. mighty morning, Chris.

    Christopher Ellinghaus -- The Williams Capital Group -- Analyst

    Can talk about the Georgia, you'd mentioned that it was profitable in the second half of the year. Are you expecting that trend to continue?

    Charles MacFarlane -- President & Chief Executive Officer

    Thanks for the question, Chris. Yes, they are. They more -- dote a 30% extend in volume year-over-year in Georgia. So we've got some leverage there and they continue to perceive a mighty backlog at that site. We've continued to help operationally, then help dramatically around their on-time delivery and drudgery with a number of customers on pricing, so they anticipate that similar or better results as they had in the ultimate six months of '18 going forward into '19.

    Christopher Ellinghaus -- The Williams Capital Group -- Analyst

    Does that exist of value BTD had some pretty sturdy revenue growth? Are you expecting particularly with the way the backlog look, you're expecting another really mighty revenue year there?

    Charles MacFarlane -- President & Chief Executive Officer

    We are definitely expecting an increase, I would say, in the backlog 35% of the section expense or 35% to 40% is metal and a lot of these prices that are in the backlog assume metal prices that were probably based on 2018 final quarter and we've seen that drop a little. So the metal impact in the '19 backlog is likely overstated a itsy-bitsy bit, but they execute anticipate mighty growth in any the segments where -- there are some of those segments that you're not going to perceive that kindly of growth. They fill been awarded programs in the Ag sector that are unique to us, meaning it's just not higher volume of the selfsame section they were making, they are going to exist making parts of it that they weren't in previous year. So it's a market participate growth there.

    Christopher Ellinghaus -- The Williams Capital Group -- Analyst

    Okay. Kevin, is the foundation donations that you were talking about, would you anticipate that those would likely sojourn sort of fourth quarter kindly of events?

    Kevin Moug -- Senior Vice President & Chief financial Officer

    Yes.

    Christopher Ellinghaus -- The Williams Capital Group -- Analyst

    Okay. And lastly, you talked about the competition increasing in plastics a itsy-bitsy bit, is there -- was there a lot of slack in capacity that some of your competitors may fill been trying to utilize or salvage your utilization higher or what -- where is that competition coming from?

    Charles MacFarlane -- President & Chief Executive Officer

    Yeah. I mean, I reckon that there is a lot of the -- some of the larger competition certainly has capacity out there in the -- in their plants. Some of that competition is moreover vertically integrated and that there are resin manufacturers and there's always some potential or were there want to fill their profits occur and whether it's at their resin plants or their PVC businesses. And so they did perceive some of that happened and there's been -- it's -- at least, looks to exist continuing into the first quarter here. I mean, we're only a month and a half into the year so far, but they fill seen sales prices kindly of continue with those itsy-bitsy bit reduced levels from that were in the fourth quarter.

    Christopher Ellinghaus -- The Williams Capital Group -- Analyst

    Okay. Thanks for the details, guys. I treasure it.

    Charles MacFarlane -- President & Chief Executive Officer

    You're welcome.

    Operator

    Our next question is a follow-up question from Paul Ridzon with KeyBanc.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    Just back to the ultimate question, the -- at BTD, the lessen in metal prices will impact revenues, but shouldn't impact net income?

    Kevin Moug -- Senior Vice President & Chief financial Officer

    Correct. The metal prices are passed through to the customer, but they execute argue up in the backlog as far as total section prices.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    Kevin, when you talked about and talks about the '19 electric utility outlook, you said something about O&M and pension, like, I kindly of missed that, could you quickly review what you said?

    Kevin Moug -- Senior Vice President & Chief financial Officer

    Sure. I mean, we're -- they expect, in large part, lower O&M at the utility in part, because we're -- their discount rate went up on the pension diagram and their other capitalize programs and they had a discount rate of 3.9%, Paul, in 2000 -- that they use for 2018 and then now in 2019, given where interest rates glide kindly of that ultimate half of the year, their discount rate went up to 4.5%.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    And should they moreover search for for lessen in O&M, because of the plant outage loss?

    Kevin Moug -- Senior Vice President & Chief financial Officer

    Yes. Yup.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    So the O&M line in total should exist down? Correct? Is that just to say?

    Kevin Moug -- Senior Vice President & Chief financial Officer

    Yes.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    Okay. Thank you very much for the clarification.

    Operator

    And I'm not showing any further questions on the phone lines.

    Charles MacFarlane -- President & Chief Executive Officer

    Well, thank you for your questions and support Otter Tail Corporation. With continued execution on the utility growth projects and sturdy operational performance in their manufacturing segment, they remain confident in their competence to deliver shareholder value. In 2019, they will focus on continuing to help BTD profitability and they will further refine the long-term growth strategy for Northern Pipe and Vinyltech and T.O. Plastics, and they will continue to execute on Otter Tail Power's major generation and technology projects. They believe this will allow us to the deliver on their 2019 guidance of $2.10 to $2.25 a share.

    Thank you for joining their call. They treasure your interest in Otter Tail Corporation, and they search for forward to a successful 2019.

    Operator

    Ladies and gentlemen, this does conclude today's presentation. You may now disconnect, and fill a wonderful day.

    Duration: 38 minutes

    Call participants:

    Loren Hanson -- assistant Secretary, Treasurer & Manager of Investor Relations

    Charles MacFarlane -- President & Chief Executive Officer

    Kevin Moug -- Senior Vice President & Chief financial Officer

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    Christopher Ellinghaus -- The Williams Capital Group -- Analyst

    More OTTR analysis

    Transcript powered by AlphaStreet

    This article is a transcript of this conference muster produced for The Motley Fool. While they strive for their fatuous Best, there may exist errors, omissions, or inaccuracies in this transcript. As with any their articles, The Motley Fool does not assume any responsibility for your use of this content, and they strongly encourage you to execute your own research, including listening to the muster yourself and reading the company's SEC filings. please perceive their Terms and Conditions for additional details, including their Obligatory Capitalized Disclaimers of Liability.

    Motley Fool Transcribers has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.



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